Liu , thanks again.What do you think of this move?
ArcelorMittal recently decided to expand its West African iron ore operations, buying around half of the Mount Nimba deposit in Guinea, located 40 kilometers from its existing Liberian operations."another player with great synergies in the area.
Regardless of the current conditions we have seen so much activity with Iron Ore miners esp in Africa I really do not see why on earth we are sweating here.Jindal wanted Marampa FACT.Rio just decided to plough ahead with the guinea operation, again in the multi billions for a Greenfield project.Glasenberg has stated only a few months ago that at the right price he will be looking at all mines for sale.In the link below Vale state that by 2016 they intend to invest 12 billion into African mines.Shandong are trying to turn us over but the point is that they want the mine.
As the Rio investment underlines miners and steelmakers plan for the longterm and are always after assets.The question is who are the other party at the table with AML right now and why is FT spending so much time courting the chinese.That is our price take it or leave it!!Then move on
The idea that we are limited to Shandong makes zero sense.
a source said: would love to read in some newspaper that vale or BHP were in talks with AML over buying a stake or a complete takeover.Very surprised that the media have not even noted our situation when they had a lot of articles on London.